We will remain buyers of pharma at this point: Tirthankar Patnaik

In a chat with ET,Tirthankar Patnaik, Director, Strategist-Institutional Research, Religare Capital Markets Limited, shares his views on Pharma.

ET Now: We have just heard the CLSA upgrade coming in on Dr. Reddy’s do you think the traction in pharma is going to continue?

Tirthankar Patnaik: Yes, definitely pharma is one space where you a have earnings visibility that is relatively clean. The sector has performed. Stocks like Dr. Reddy’s, Sun Pharma, Lupin have performed fairly fairly well. If there are concerns on stocks like Ranbaxy or Cipla, they are few and far between and any kind of clients that we generally meet have a pharma overweight and what I am trying to say here is that even though the sector therefore is a favourite given the current scene of the macro not many people are willing to take bets outside these dollar denominated sectors. So from a top down perspective we will remain buyers of pharma at this point.